Tech901
- Assets
- $1.7m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 10
- Location
- Memphis, TN
- Founding
- 10/2015
- Data as of
- 12/2021
- EIN
- 47-4244246
Organization Overview
Tech901 is located in Memphis, TN. The organization was established in 2015. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2021, Tech901 employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Tech901 is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Tech901 generated $1.9m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 34.4% each year . All expenses for the organization totaled $1.4m during the year ending 12/2021. While expenses have increased by 29.2% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TECH901'S MISSION IS TO TRAIN INDIVIDUALS FOR A VARIETY OF INFORMATION TECHNOLOGY JOBS AND TO WORK WITH EMPLOYERS TO INCREASE THE MEMPHIS TECHNOLOGY JOB BASE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TECHNOLOGY TRAINING TO INDIVIDUALS IN ORDER TO ENHANCE THE TALENT BASE FOR TECHNOLOGY JOBS WHILE PROVIDING AWARENESS TO MEMPHIS AND MID-SOUTH BUSINESSES OF THE ENHANCED TALENT POOL. ESTIMATED CLIENTS SERVED 300.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve Denegri Chief Operating Officer | Officer | 40 | $125,053 |
Jennifer L Carmichael Director Of Marketing | 40 | $106,007 | |
Robert Montague Executive Director | Officer | 40 | $72,152 |
Tom Marino President | OfficerTrustee | 2 | $0 |
David Montague Treasurer | OfficerTrustee | 2 | $0 |
David Harris Secretary | OfficerTrustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $156,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,717,206 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,873,806 |
| Total Program Service Revenue | $65,263 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,939,069 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $245,991 |
| Compensation of current officers, directors, key employees. | $17,193 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $591,842 |
| Pension plan accruals and contributions | $6,430 |
| Other employee benefits | $110,520 |
| Payroll taxes | $56,332 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $540 |
| Fees for services: Accounting | $23,368 |
| Fees for services: Lobbying | $20,450 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $12,704 |
| Advertising and promotion | $45,211 |
| Office expenses | $33,270 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $130,644 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,713 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $46,190 |
| Insurance | $6,459 |
| All other expenses | $727 |
| Total functional expenses | $1,392,102 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,052,004 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $618,423 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,670,427 |
| Accounts payable and accrued expenses | $18,996 |
| Grants payable | $0 |
| Deferred revenue | $14,039 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $33,035 |
| Net assets without donor restrictions | $1,526,392 |
| Net assets with donor restrictions | $111,000 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $1,670,427 |
Grants Recieved
Over the last fiscal year, we have identified 4 grants that Tech901 has recieved totaling $127,414.
| Awarding Organization | Amount |
|---|---|
Assisi Foundation Of Memphis Inc Memphis, TN PURPOSE: ADULT IT JOB TRAINING | $56,000 |
Slingshot Memphis Inc Memphis, TN PURPOSE: PROGRAM SUPPORT | $32,164 |
Regions Foundation Birmingham, AL PURPOSE: GENERAL SUPPORT | $30,000 |
Community Foundation Of Greater Memphis Inc Memphis, TN PURPOSE: GENERAL OPERATIONAL SUPPORT | $9,250 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Isha Foundation Inc Mcminnville, TN | $77,293,567 | $29,444,562 |
John Marshall Online Inc Atlanta, GA | $11,713,924 | $9,257,448 |
American Board For Certification In Orthotics & Prosthetics Inc Alexandria, VA | $27,674,862 | $8,130,856 |
Abraham J & Phyllis Katz Foundation Ua 060794 Newnan, GA | $48,678,737 | $4,412,136 |
Alabama Partnership For Children Montgomery, AL | $2,774,532 | $6,902,612 |
Mid-South Carpenters Regional Council Training Trust Fund Chattanooga, TN | $11,869,784 | $4,623,435 |
Literacy Kansas City Kansas City, MO | $1,783,046 | $2,841,106 |
The Virginia Center For Policing Innovation Richmond, VA | $3,512,046 | $2,842,385 |
Progressive Abilities Support Services Inc Savannah, GA | $457,648 | $2,076,851 |
Society Of Cardiovascular Computed Tomography Arlington, VA | $2,676,474 | $2,337,987 |
East Central Georgia Consortium Thomson, GA | $497,694 | $1,856,381 |
Hi-Tech Charities Saint Louis, MO | $4,192,026 | $2,946,711 |